Royal Decree 50/2023 Promulgating the System of the Social Protection Fund

We, Haitham bin Tarik, the Sultan of Oman

after perusal of the Basic Statute of the State,

Royal Decree 45/80 Establishing the Royal Oman Police Pension Fund,

Royal Decree 50/80 Establishing Petroleum Development Oman Limited Liability Company,

the Law on Pensions and End of Service Gratuity for Omani Government Employees promulgated
by Royal Decree 26/86,

the Social Insurance Law promulgated by Royal Decree 72/91,

Royal Decree 3/93 Establishing the Royal Guard of Oman Pension Fund,

Royal Decree 6/93 Establishing the Royal Office Pension Fund,

Royal Decree 87/93 Establishing the Ministry of Defence Pension Fund,

Royal Decree 7/94 Establishing the Internal Security Service Pension Fund,

Royal Decree 101/94 Establishing the Sultan's Special Force Pension Fund,

Royal Decree 31/96 Determining the Rules Governing the Investment of the Funds of the Public
Authority for Social Insurance and Pension Funds,

the Law on Pensions and End of Service Gratuity for Omani Employees of the Diwan of Royal Court
promulgated by Royal Decree 86/96,

the Financial Law promulgated by Royal Decree 47/98,

the Law of Pensions and End of Service Gratuity for the Personnel of Royal Oman Police and the
Constitution of the Royal Oman Police Pension Fund promulgated by Royal Decree 2/2000,

the Law of Pensions and End of Service Gratuity for the Personnel of the Ministry of Defence and
the Sultan's Armed Forces promulgated by Royal Decree 3/2002,

the Tender Law promulgated by Royal Decree 36/2008,

the System of the Administrative Apparatus of the State promulgated by Royal Decree 75/2020,

and Royal Decree 33/2021 regarding the Systems for Retirement and Social Protection,

and in pursuance of public interest,

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 have decreed as follows

Article I

The provisions of the attached system shall apply in regard to the Social Protection Fund.

Article II

The functions, competences, assets, rights, obligations, holdings, and financial liabilities, as well as
their associated data, of the Ministry of Defence Pension Fund, the Royal Office Pension Fund, the
Royal Oman Police Pension Fund, the Internal Security Service Pension Fund, the Royal Guard of
Oman Pension Fund, the Sultan's Special Force Pension Fund, the Diwan of Royal Court Pension
Fund, and the Civil Service Employees Pension Fund are hereby transferred to the Social Protection
Fund, with the exception of the headquarters of the Ministry of Defence Pension Fund and the
holdings agreed upon between the Chairman of the Board of Directors of the Social Protection Fund
and the Chairman of the Board of Directors of the Military and Security Services Pension Fund, which
shall be transferred to the Military and Security Services Pension Fund.

The functions, competences, assets, rights, obligations, holdings, and financial liabilities, as well as
their associated data, of the Public Authority for Social Insurance are also hereby transferred to it,
along with settling the difference between the funding ratio of the funds referred to in the previous
paragraph and the funding ratio of the Public Authority for Social Insurance, and recording the
settlement amount in the financial statements of the Social Protection Fund as a due asset. An
agreement including all the details of the aforementioned settlement must be signed with the Public
Authority for Social Insurance.

Obligations, calculated in accordance with the provisions of the Social Protection Law, from the
pension programme of Petroleum Development Oman and the pension programme of the Central
Bank of Oman, with the data associated with it are hereby transferred to it. Assets equal to such
obligations shall also transfer to it from Petroleum Development Oman and the Central Bank of
Oman. Agreements must be signed including all the details of the transfer.

The rights and obligations relating to the project for the restructuring of the pension and social
protection funds and systems which are concluded by the National Programme for Fiscal Balance and
the National Programme for Fiscal Sustainability and Financial Sector Development are hereby also
transferred to it.

Article III

The Social Protection Fund shall be a universal and total legal successor to the funds, the authority,
and programmes stipulated in article II of this decree in all contracts, agreements, investments,
partnerships, and alliances concluded by or entered into by those entities, inside and outside the
Sultanate of Oman.

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This legal succession and transfer stipulated in article II of this decree does not result in changing the
ultimate beneficiaries of the aforementioned assets, obligations, and programmes.

Article IV

The employees of the Diwan of Royal Court Pension Fund, the Civil Service Employees Pension
Fund, and the Public Authority for Social Insurance are hereby transferred to the Social Protection
Fund with their same grades and financial allocations. Any of the employees of the funds referred to
in article II of this decree, or any of the specialists in the Directorate General of Social Welfare in the
Ministry of Social Development, may be transferred by a decision by the Board of Directors of the
Social Protection Fund in accordance with its needs, after coordination with the heads of the units.

Article V

The Chairman of the Board of Directors of the Social Protection Fund shall issue the necessary
regulations and decisions for implementing the provisions of the attached system, and until they are
issued, the regulations and decisions in force continue to operate to the degree that they do not
contradict with its provisions.

Article VI

The phrases “Ministry of Defence Pension Fund”, “Royal Office Pension Fund”, “Royal Oman Police
Pension Fund”, “Internal Security Service Pension Fund”, “Royal Guard Pension Fund”, “Sultan's
Special Force Pension Fund”, “Diwan of Royal Court Pension Fund”, and “Civil Service Employees
Pension Fund”, wherever they occur in the aforementioned laws and royal decrees, are hereby replaced
with the phrase “Social Protection Fund”.

Article VII

The boards of directors of the pension funds, the Public Authority for Social Insurance, and the
pension programmes referred to in article II of this decree are hereby dissolved.

Article VIII

All pension funds and the Public Authority for Social Insurance established by virtue of the
aforementioned Royal Decrees 45/80, 26/86, 72/91, 3/93, 6/93, 87/93, 7/94, 101/94, and 86/96,
and the Pension Programme of Petroleum Development Oman and the Pension Programme of the
Central Bank of Oman shall be abolished after the transfer of ownership of all their assets to the Social
Protection Fund. The date of the end of the transfer of the ownership shall be issued by a decision by
the Chairman of the Board of Directors of the Social Protection Fund which must be published in
the Official Gazette.

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 Article IX

All that is contrary to this decree and the attached system, or in conflict with their provisions, is hereby
repealed.

Article X

This decree shall be published in the Official Gazette, and comes into force on the day following the
date of its publication.

Issued on: 29 Dhu Al-Hijja 1444

Corresponding to: 17 July 2023

Haitham bin Tarik

Sultan of Oman